No pain, no gain
Article Abstract:
The Philippines' largest bank has reached an agreement with the government, its 57% owner, over a 26.3 billion peso ($1 billion) debt, but shareholders seem skeptical. In 1987, Corazon Aquino's government took over many of the Philippine Natl Bank's liabilities, but it fell behind in settling them as they came due. In an agreement reached Jul 29, 1995, the government will give the bank Treasury bonds worth 80% of the claim. While the balance can supposedly be likewise paid if the bank documents its claim within seven years, the bank will probably write it off.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
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No pain, no gain
Article Abstract:
It is now being acknowledged that European banks are more vulnerable to the difficulties on Asian financial markets than had originally been expected. By Jun 1997, European banks held $365 billion in loans outstanding to Asian concerns and banks, a much higher level than Japanese and US financial institutions. European banks could see losses of up to $20 billion on their Asian loans, according to international credit agency Standard and Poor's. In 1998, 30% of European bank loans to Thailand and 50% of loans to Indonesia will be nonperforming.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1998
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No pain, no gain
Article Abstract:
Commercial banks in S Korea suffer from liberalization, which has pinched their margins by deregulating interest rates even as losses mount from investments in the ailing stockmarket. The 25 domestic banks lost $95 million in the first six months of 1995, compared to profits of $800 million in that period of 1994. Foreign banks, however, saw combined net profits rise 9% in 1995's first half. The govt is encouraging bank mergers to enhance intl competitiveness, and may issue licenses to illegal curb-side lenders.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
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